Pierson Commercial announced Feb. 20 the completion of the retail lease-up at The Retail at Hahne & Co., a mixed-use redevelopment at 609 Broad St. in Downtown Newark, where generations of customers once frequented the iconic Hahne’s department store.
Pierson Commercial Real Estate of Marlboro served as exclusive retail leasing agent for the project and completed the lease-up of nearly 30,000 square feet of street-level and interior retail space, further solidifying the property’s role as a cornerstone of Newark’s downtown resurgence.
The Retail at Hahne & Co. features a mix of national, regional and local tenants anchored by Whole Foods Market and includes Barnes & Noble, CityMD, RWJBarnabas Health, RadNet, Sweetwaters Coffee & Tea, Panda Express, Brunswick Burger House, Urban Agriculture Cooperative, Kite + Key, and additional food, beverage, wellness, and service-oriented concepts.
“Achieving full lease-up at Hahne’s is a testament to both the growing strength of Downtown Newark and ownership’s vision behind this redevelopment,” said Ryan Starkman, vice president at Pierson Commercial.
The Retail at Hahne & Co. is at the center of a rapidly growing market with a strong mix of growing residential paired with a daytime and student population nearby driven by the city’s large office market and colleges. The property is less than 20 minutes from New York Penn Station, making it a highly accessible retail destination.
The retail component is part of a larger mixed-use project that also includes 160 residential units and about 100,000 square feet of office and educational space, creating a true live-work-shop environment in the heart of Newark.
“With its successful lease-up, Hahne’s has brought a diverse mix of retailers to Downtown Newark, underscoring the project’s success as a desirable location for residents, shoppers, and businesses alike,” said Jake Pine, managing director at LMXD, an L+M Development Partners affiliate. “This vibrant retail environment anchors the revitalization of this important submarket and supports the continued resurgence of the neighborhood.”
The Retail at Hahne & Co. is one of Newark’s most iconic commercial buildings. The Hahne & Company was founded in 1858 by Julius Hahne and Adam Block and became one of New Jersey’s premier department store chains. The Newark flagship opened in 1901 across from Military Park and featured Newark’s first escalator. The four-storied building had more than 400,000 square feet of selling space on a 2.3‑acre site.
A grand atrium topped with a steel‑and‑glass skylight was one of the building’s signature features and it was a destination for customers from all over the region during the holidays. The building had restaurants and even a merry‑go‑round in the toy department. The Newark store employed around 2,000 people at its height and offered everything from clothing and jewelry to electronics, books, and home furnishings.
The company operated until 1987, when it was absorbed into Lord & Taylor following a series of ownership changes. The Newark flagship closed as part of this transition.
Established in 2011, Pierson Commercial is a retail-focused commercial real estate brokerage and advisory firm providing a full range of acquisition, disposition and leasing services.
LMXD is the mixed-income and market-focused member of the L+M family of companies.
